The spike in COVID-19 cases and ongoing product shortages didn’t stop Americans from pulling out their credit cards this holiday season: Retail sales rose 8.5 percent from Nov. 1 to Dec. 24 from a year earlier, according to Mastercard SpendingPulse. That rise was the fastest pace in 17 years, the AP reports, and was driven by clothing and jewelry purchases. When Omicron began its march across the U.S., shoppers shifted to online purchases. “I feel really good about how the season played out,” Steve Sadove, senior adviser to Mastercard and former CEO of Saks Inc., told the AP. “When people feel a little bit uncomfortable, you’ll see a little bit of a pickup in online and a little bit of a slowdown in store performance.’’
Read it at AP
